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Gold/Mining/Energy : FREEWEST RESOURCES T.FWR / M.FWR
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To: russwinter who wrote (214)8/2/2001 7:43:06 PM
From: Bruce Robbins  Read Replies (1) of 253
 
Re WRM:

"13.3 metres grading 23.6 grams gold per tonne. Two other intercepts from that same hole graded 33.7 and 22.4 grams gold per tonne over 2.0 and 2.8 metres"

"3,897,324 tonnes grading 12.51 grams gold per tonne, or 1,567,692 ounces"

This can be considered high-grade. This one may not fly because of costs- we are talking deep and far from everything.

Re Kinross:

It is going to wind up like Royal Oak or Cambior if gold sits below $350 for much longer. They are running around trying to JV everything they have but nobody is biting.

The problem I have with Lassonde's view is that from the grassroots to definition stage is minimum 10 years. About 20 years from discovery to mine. Costs of exploration are very high- highest they have ever been. Who is going to finance the 20 years of risk? The majors don't seem to be interested right now because the risk is too high. The market is not interested. Without a significant rise in commodity prices, the market will not be interested. The rise in commodity prices is coming- that is a fact. But when, is the million dollar question. Will gold rise when 25% of the mines presently in operation shut down? Let's take the scenario that gold remains below $300 for the next 2 years- what would that do to the mid and junior mining companies? Would FWR and Clarence Stream still be around after another 2 years of flat gold?
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